New Brunswick NJ, Continuing his advocacy for the fiscal reforms needed to reduce costs for state and local government, Senate President Steve Sweeney today joined a policy forum to discuss the initiatives in the “Path to Progress” report that will produce savings and efficiencies for state and local government and will help avert the mounting crisis in public finances from overtaking the government’s ability to operate effectively.

“The unexpected surge in revenues the Governor is now claiming is the surge the Legislature expected when we imposed a 2.5 percent surcharge on the millionaire and billionaire corporations that benefited directly from the Republican Congress’ tax cut. It is the Corporation Business Tax surcharge we imposed that has been coming in far over the Administration’s revenue projections – just as the Legislature said it would.

New Brunswick NJ, Speaking at a public policy forum at Rutgers University’s Eagleton Institute of Politics, Senate President Steve Sweeney discussed the cost-cutting reforms in the “Path to Progress” report, including those that will produce savings and efficiencies for municipalities, county governments, local school districts and their employees.

Discusses Poll Showing Public’s Dissatisfaction with Handling of Public Finances

the staff of the Ridgewood blog

Trenton NJ, Continuing to advocate for the fiscal and economic reforms needed to avert future financial crises, Senate President Steve Sweeney spoke at the New Jersey Business and Industry Associations policy forum today where he emphasized the economic value of bringing fiscal reforms to public finances.

Senator Sweeney addressed NJBIA’s Government Affairs Policy Committee about the “Path to Progress” report issued by the 25-member study group that provides a working blueprint to achieve the operational and structural reforms needed to restore financial stability and affordable government.

Trenton NJ, Senate President Steve Sweeney joined in a panel discussion sponsored by the League of Municipalities for its 27th Annual Mayors Legislative Day where he discussed the cost-cutting reforms in the “Path to Progress” report, including those that will produce savings and efficiencies for municipalities, school districts and their employees. Senator Sweeney participated as a member of the “Meet the Legislative Leaders” panel discussion.

“The proposals developed by the study commission will deliver savings for state and local government alike,” said Senator Sweeney (D-Gloucester/Salem/Cumberland). “Municipalities, local school districts and the taxpayers will realize the benefits of the proposals to address soaring pension and benefit costs, hold down property taxes, make government and school districts more efficient, and leverage state assets.”

Monroe Township NJ, Declaring that teachers and school districts are paying too much for their healthcare coverage, Senate President Steve Sweeney today called for the merger of the high-cost School Employees Health Benefits Plan into the lower-cost State Health Benefits Plan to take advantage of the cost savings negotiated by the Governor and the state’s largest public workers union.

Speaking at a meeting of the New Jersey Principals and Supervisors Association, Senator Sweeney said legislation merging the two healthcare plans would be a cornerstone of the Path to Progress legislative package that will be introduced to implement recommendations of the bipartisan Economic and Fiscal Policy Workgroup.

Trenton NJ, Senate President Steve Sweeney issued the following statement today in response to the budget proposal offered by Governor Phil Murphy:

“This is a positive budget plan that takes meaningful steps in the right direction, but I remain opposed to the proposed tax increase. I welcome the Governor’s willingness to work with the Legislature in a constructive and cooperative way.

Trenton NJ, Senate President Steve Sweeney (D-Gloucester, Salem, Cumberland) issued the following statement in response to the New Jersey Business and Industry Association’s “Indicators of Innovation” report.

“NJBIA’s report underscores what we already know. High taxes make New Jersey less affordable and our investments in higher education and research and development lags behind comparable states in the region, like Massachusetts and New York.

“We have a responsibility to the people of New Jersey to make our state more affordable, to lower the tax burden on our families and to invest in the next generation of innovators through education and technology. We can’t make the investments we need, however, until we address the long-term fiscal crisis, specifically the high pension and benefit costs that crowd out critical investment. We need to make smart investments, we need to control taxes and we need do it now, if we are going to get New Jersey back on track. If we make the difficult but necessary decisions today, we can make New Jersey a leader for generations to come.”

MONROE TOWNSHIP NJ, in an interesting turn of events Senate President Steve Sweeney today told business leaders that major changes in New Jersey’s fiscal policy and government structure are needed to make the state competitive and affordable, and vowed that the Legislature’s leadership will have the political will to make the necessary changes.

Seems that years of running the state into the ground has taken its tool ,“We cannot tax our way out of this fiscal crisis,” Senator Sweeney (D-Gloucester) said at a New Jersey Business and Industry Association forum. “The problems we face – from pensions to school funding, from health care costs to property taxes – are deep-rooted and complex, and the solutions are politically difficult. But I promise you that we will have the political will on a bipartisan basis to make the changes we need to make New Jersey competitive and affordable.”

“This initiative grew out of our concern over the impact of the federal tax law, which unfairly targets high-cost states like New Jersey by virtually eliminating the personal income tax deduction for state and local income, property and sales taxes,” said Senator Sweeney. “We are doing everything we can to reduce the impact, including developing legislation to enable S corporations, LLCs and partnerships to pay the state income tax liabilities of their owners and partners. These businesses will be able to deduct $35 billion in taxes as a result of our work.

“But we realize that it isn’t enough to just respond to the federal tax law. We have to do more – a lot more. Our panel will be coming out with a series of recommendations that will bolster our underfunded pension systems, control health care costs, hold down property taxes and ensure that government services are delivered with efficiency and cost-effectiveness at the level of government that makes the most sense.”

Senator Sweeney said the panel is undertaking a long-overdue examination of the adequacy, fairness and competitiveness of New Jersey’s state and local tax structure, and benchmarking New Jersey tax levels against other states.
“We are committed to making New Jersey competitive and affordable in order to attract jobs and businesses, bolster housing values and make our state a desirable location for millennials to create start-ups, for young families to choose to raise their children, and for senior citizens to retire.”